PB Fintech reports net profit for the first time post listing; Stock rallies around 15% today

PB Fintech Ltd, popularly known as PolicyBazaar, is India’s largest online platform for insurance and lending products through its flagship brands – Policybazaar and Paisabazaar. The company’s platform provides convenient access to insurance, credit, and other financial products. It is in the limelight today as the company posted its quarterly earnings yesterday, leading to a significant surge in its share price.

Share Performance:

At the start of the day’s trading session, the stock opened at Rs 963.95 per share, indicating an almost 5.8% increase compared to the previous day’s closing figure of Rs 911.60 per share on the BSE. As of the time of writing this article, the shares are currently at Rs 1024 per share on the BSE, reflecting an impressive gain of 12.32%. It hits intraday highs and lows of Rs 1,044.90 and Rs 950, respectively.

Furthermore, the company’s share reached its IPO issue price of Rs 980 per share today. If we compare the current market price with the all-time high price of Rs 1,470 each, it is currently trading at a discount of around 30%. The company’s current market capitalization stands at Rs 46,207 crore, and the stock has generated a return of 46% in the past three months and 138% in the past year. Following is the weekly chart of the stock.

Financial Performance:

The company announced its third-quarter earnings on Tuesday, during the third quarter the company reported revenues of Rs 871 crore, reflecting a growth of 42.75% YoY compared to the same quarter in the previous year when the revenue stood at Rs 610 crore. The company posted an operating loss of Rs 27 crore for the quarter, in contrast to an operating loss of Rs 133 crore in the corresponding quarter of the previous year. Furthermore, the company reported a net profit of Rs 37 crore, compared to a net loss of Rs 88 crore in the same period last year. Moreover, the company has reported net profit for the first time ever post listing.

In terms of ownership, FIIs and DII hold 46% and 18.97 respectively and the remaining 34.28% and 0.76%, are held by public investors and other participants, as per the most recent update.

Investors should keep this stock on their radar.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.